As the market players are aware, global economic uncertainties and trade tensions between the US and China have the potential to impact the broader movement of stock markets. In the event of global slowdown, generally, market participants sell their equity holdings. The global uncertainties tend to negatively impact the sentiments of global market players. As we know, the trade battle could disrupt the primary business activities of global companies and, as a result, there could be negative impacts on top and bottom line numbers. Therefore, to bring stability in the global business environment and in broader stock markets, the trade war needs to end on a permanent basis.
The date of the US Federal Reserve meeting is fast approaching and it is important for investors to track the meeting, as it could give them some idea of the global economy. Talking about the performance on September 9, 2019, there was an increase of 38.05 points or 0.14% on an intraday basis in Dow Jones Industrial Average and the index closed at 26,835.51. However, on the other hand, S&P 500 Index witnessed a decline of 0.01% or 0.28 points to settle the day’s session at 2,978.43.
Oil Prices Can Get Affected If Uncertainties Increase
Following are some of the primary factors that could influence oil prices:
- Movement of broader equity markets
- Macro-economic factors
- News related to the trade battle between the US and China
The above-mentioned factors could influence oil demand, which might, in turn, affect the prices of oil. In order to bring stability, settlement of the trade fight is very important. However, in the current scenario, it looks like oil prices are being affected by the expectations that there might be some cuts with respect to the output.
How Australian Stocks Performed on September 10, 2019?
Performance of broader Australian markets is sensitive to the overall health of the global economy as well as to the events that are associated with the trade battle between the US and China. A rise in economic uncertainties can weigh over the sentiments of Australian investors and they might decide to stop making deployments towards Australian equities. On September 10, 2019, S&P/ASX200 ended the session in red, as there was a fall of 0.5% or 33.9 points, settling the session at 6614.1. On the same day, All Ordinaries fell by 0.5% or 32.1 points to settle at 6728.
Talking about the movement in individual stocks, Whitehaven Coal Limited (ASX: WHC) and Santos Limited (ASX: STO) reported an increase of 5% and 4.065% in their share price, respectively, on an intraday basis. However, on the same day, share price of WiseTech Global Limited (ASX: WTC) and Appen Limited (ASX: APX) fell by 6.929% and 6.567%, respectively, on an intraday basis.
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WHC Daily Technical Chart (Source: Thomson Reuters)
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